Chevron is expected to sign an agreement with Iraq on Friday to advance its negotiations on investing in large oil fields and building a pipeline that will bypass the Strait of Hormuz. A company executive said on Thursday that these agreements are not expected to be binding, but they will show that Chevron is committed to finally signing the commercial agreement for Sigurna-2 and Nasiriyah oil fields. The executive also said that Chevron is also part of a consortium of US and international companies and is exploring the possibility of building a pipeline to help Iraq export oil by avoiding the Strait of Hormuz. Earlier this week, Bloomberg News reported that the company is in talks with a consortium of investors to restart the long-abandoned Kirkuk-Baniyas pipeline, a 500-mile long pipeline that runs through Syria to the Mediterranean coast.

Chevron is expected to sign an agreement with Iraq on Friday to advance its negotiations on investing in large oil fields and building a pipeline that will bypass the Strait of Hormuz. A company executive said on Thursday that these agreements are not expected to be binding, but they will show that Chevron is committed to finally signing the commercial agreement for Sigurna-2 and Nasiriyah oil fields. The executive also said that Chevron is also part of a consortium of US and international companies and is exploring the possibility of building a pipeline to help Iraq export oil by avoiding the Strait of Hormuz. Earlier this week, Bloomberg News reported that the company is in talks with a consortium of investors to restart the long-abandoned Kirkuk-Baniyas pipeline, a 500-mile long pipeline that runs through Syria to the Mediterranean coast.